Press Release

Opus Bank Announces Completion of Subordinated Debt Offering

Company Release - 6/29/2016 4:14 PM ET

IRVINE, Calif.--(BUSINESS WIRE)--
Opus Bank (“Opus”) (NASDAQ: OPB) announced today the completion of a
public offering and sale of $135,000,000 in aggregate principal amount
of its 5.50% fixed-to-floating rate subordinated notes due 2026 (the
“Notes”). The Notes were sold at par, resulting in net proceeds, after
discounts and estimated offering expenses, of approximately $132.3
million. The Kroll Bond Rating Agency has assigned a rating of BBB+ to
the Notes.

Opus expects to use the net proceeds from the offering for general
corporate purposes, which may include supporting Opus’ growth and
capital adequacy.

Opus Bank has obtained a permit for the sale of the securities from the
California Commissioner of the Department of Business Oversight. This
permit is permissive only and does not constitute a recommendation or
endorsement of the securities sold. This press release is for
informational purposes only and shall not constitute an offer to sell or
a solicitation of an offer to buy the securities, nor shall there be any
sale of the securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The securities are neither insured nor approved by the
Federal Deposit Insurance Corporation.

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with
$6.9 billion of total assets, $5.8 billion of total loans, and $5.2
billion in total deposits as of March 31, 2016. Opus Bank provides
high-value, relationship-based banking products, services, and solutions
to its clients through its Retail Bank, Commercial Bank, Merchant Bank,
and Correspondent Bank. Opus Bank offers a suite of treasury and cash
management and depository solutions and a wide range of loan products,
including commercial, healthcare, technology, multifamily residential,
commercial real estate, and structured finance, and is an SBA preferred
lender. Opus Bank offers commercial escrow services and facilitates 1031
Exchange transactions through its Escrow and Exchange divisions. Opus
Bank provides clients with financial and advisory services related to
raising equity capital, targeted acquisition and divestiture strategies,
general mergers and acquisitions, debt and equity financing, balance
sheet restructuring, valuation, strategy, and performance improvement
through its Merchant Banking division and its broker-dealer subsidiary,
Opus Financial Partners. Opus Bank’s subsidiary, PENSCO Trust Company,
is a leading tech-enabled alternative asset IRA custodian with
approximately $12 billion of custodial assets and over 48,000 client
accounts, which are comprised of self-directed investors, financial
institutions, capital raisers, and financial advisors. Opus Bank
operates 58 banking offices, including 33 in California, 22 in the
Seattle/Puget Sound region in Washington, two in the Phoenix
metropolitan area of Arizona, and one in Portland, Oregon. Opus Bank is
an Equal Housing Lender.

Forward-Looking Statements

This release may include forward-looking statements related to Opus’
plans, beliefs and goals, which involve certain risks, and uncertainties
that could cause actual results to differ materially from those in the
forward-looking statements. The forward-looking information presented in
this press release is not a guarantee of future events, and actual
events may differ materially from those made in or suggested by the
forward-looking information contained in this press release.
Forward-looking statements generally can be identified by the use of
forward-looking terminology such as “intend” or “expect” or variations
thereon or similar terminology. All such statements speak only as of the
date made, and Opus undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.

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